Highlights of ACCA Council meeting - June 2013

Global 3 Jul 2013

ACCA Council (the Association of Chartered Certified Accountants) held a scheduled meeting on 15 June 2013. It was honoured to welcome to the meeting Jorgen Holmquist, Chairman of the International Ethics Standards Board for Accountants (IESBA)

Jorgen gave Council a wide ranging presentation covering:

the role of IESBA;

global developments;

IESBA’s outreach activities;

IESBA’s work programme, key challenges and future strategy;
and

how ACCA can support the work of IESBA.

The Council meeting featured a number of other discussions on key topics:

Council met in break-out groups to contribute to the further development of ACCA’s strategy beyond 2015. This was done through discussing a number of scenarios to 2025 which ACCA had developed in order to explore the environment in which accountants might have to operate and the possible impact of these on the accountancy profession and ACCA specifically.

Council-approved ACCA's Consolidated Financial Statements, Corporate Governance Statement and Summary Accounts for the financial period ended 31 March 2013. It also approved the content of ACCA’s Annual (Integrated) Report, together with a related CSR Statement, which will be published on the ACCA website with the AGM material. The reporting suite of material will be available from the end of July (see the ‘Related Links’ section, left of this article for the weblink).

Council went on to approve the Notice of Meeting for the 2013 AGM. There will be one item of special business on the AGM agenda this year, inviting members to support a number of bye-law changes designed to ensure that ACCA’s disciplinary bye-laws remain fit for purpose against the background of developments in case law and best practice. In addition, members will be asked to approve the Annual Report and Accounts and to re-appoint ACCA’s external auditors. (The AGM material will be despatched by the end of July and members are encouraged to engage with ACCA by submitting their votes by the closing date of 12 September).

Council agreed recommendations from Nominating Committee regarding the membership of standing committees in the coming Council year. It also approved amendments to Council’s standing order for adoption at the Annual Council meeting in September.

Council considered the issue of the membership subscription for 2014. On a recommendation from Resource Oversight Committee, and taking into account all relevant factors, Council agreed that the membership subscription for 2014 should be held at the 2013 rate of £205.

Council also approved a Mutual Recognition Agreement with the Institute of Management Accountants (IMA) in the US. The Agreement, which was also approved by the IMA Board of Regents, is the next step in ACCA’s strategic partnership with IMA. For ACCA members, the Agreement will provide direct access to a US designation as well as strengthening ACCA’s place as a global leader in the area of financial leadership and performance.

ACCA's AGM will be held at 1pm (BST) on Thursday 19 September 2013 at 29 Lincoln's Inn Fields, London WC2.

The AGM will be followed by the Annual Council meeting, at which ACCA's Officers for 2013-2014 will be chosen.